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EdwardFabianRamirez

Weekly Analysis on Great Britain Pound / Japanese Yen: Week 13

Libra Esterlina/Iene Japonês (FX:GBPJPY)  
EdwardFabianRamirez  
FX:GBPJPY   Libra Esterlina/Iene Japonês
Trend Analysis Chart Patterns yen british pound japanese GBPJPY bullishidea Bullish Patterns trend analysis
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trendanalysis chartpattern yen british pound japanese gbpjpy bullishidea bullish trend analysis
DISCLAIMER: Hi everyone, this is just a log book for me on applying everything that I have learned and continue to learn as I go along. That being said, I do not advise you to base your trading on these "ideas".

Ok, so this week I managed to make all the trading mistakes in the book. Took huge losses but somehow that fuels me up to make bigger gains and get back on track. I feel like now that I am not afraid to loose money, I have an open road ahead of me to MAKE money. So lets get an analysis going here.

Weekly:
snapshot
I decided to go first with the weekly chart because I spotted an ascending channel, as seen here.

Daily:
snapshot
If we take a look at the daily we see that about 2 weeks ago the price hit the bottom part of our channel, and bounced back. It has been making higher highs and lower lows, although the las higher high was at a previous resistance area of 150.155, and rejected it. Also price is not over our MA.

4HR:
snapshot
Price closed this week below our MA, and rejecting a previous resistance area around the 150.155 area. But it didn't break a support area I had drawn around 147.905.

I believe that this pair will follow its structure and continue to move upwards.
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